Oriole, Inc. had net sales in 2017 of $1,465,800. At December 31, 2017, before a

Question

Oriole, Inc. had net sales in 2017 of $1,465,800. At December 31, 2017, before adjusting entries, the balances in selected accounts were Accounts Receivable $337,800 debit, and Allowance for Doubtful Accounts $2,590 credit. If Oriole estimates that 9% of its receivables will prove to be uncollectible.

Prepare the December 31, 2017, journal entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

Date

Account Titles and Explanation

Debit

Credit

Dec. 31, 2017

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit Bad debt expense (337800*9%-2590) 27812     Allowance for doubtful accounts 27812

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